Jain Group, which has a presence in automobile and real estate sector, has diversified into hospitality business and will soon start three hotels in West Bengal. The company will invest about Rs 280 crore for these projects and also plans to set up 15 hotels in the next five years.
“Work has started for our five star hotel near Rajarhat and will start operations by 2013. Moreover, we have finalised sites for two hotels at Siliguri and Durgapur too,” said Shrayans Jain, Vice Chairman, Jain Group.
According to him, the company has set a roadmap of having 15 hotels across the country in next the five years. The group had tied up with Best Western, the world’s largest hotel chain for its five star hotel in Kolkata. The group’s real estate business is under the aegis of ‘Dream Homes’. In the hospitality business, while the Dream Best Western in Kolkata and Siliguri would be five star, the Durgapur one would be four star.
‘The investment for our Kolkata project is around Rs 125 crore, while the Siliguri hotel will cost about Rs 90 crore and Durgapur one about Rs 65 crore. We are keen on starting hotels in Sikkim, Doars and Kharagpur, and are already in talks with some parties,” Jain said.
Dream Best Western is poised to be one of Kolkata’s largest destination for travellers with 150 well-appointed rooms and suites. It will have four specialty restaurants, banquets, a 24-hour coffee shop and a bar lounge.
Meanwhile, the group is also foraying into the education sector. “In tie up with Usha Martin, we are setting up a management institute near Sonapur in Kolkata. The structure is ready and classes for the first batch will start from June,” he added. The group had started as a high-end car dealer by handling brands like Mercedes, BMW and Skoda.